Gould Capital LLC Has $3.76 Million Position in Public Storage (NYSE:PSA)

Gould Capital LLC cut its stake in Public Storage (NYSE:PSA) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,339 shares of the real estate investment trust’s stock after selling 398 shares during the quarter. Public Storage makes up 2.5% of Gould Capital LLC’s portfolio, making the stock its 11th biggest holding. Gould Capital LLC’s holdings in Public Storage were worth $3,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Public Storage by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after purchasing an additional 2,605 shares during the last quarter. PGGM Investments increased its holdings in Public Storage by 8.0% in the second quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock worth $48,162,000 after buying an additional 12,396 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after acquiring an additional 48,803 shares in the last quarter. Larson Financial Group LLC lifted its stake in Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after acquiring an additional 1,783 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Public Storage by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust’s stock worth $26,468,000 after acquiring an additional 2,832 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PSA shares. Royal Bank of Canada cut their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Evercore ISI decreased their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $342.07.

Public Storage Trading Up 0.5 %

Shares of PSA stock opened at $335.67 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm’s fifty day simple moving average is $339.82 and its 200 day simple moving average is $321.73. The firm has a market capitalization of $58.78 billion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 5.56 and a beta of 0.71.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.